Financial Analyst

Financial Analyst

University Overview

The University of Pennsylvania, the largest private employer in Philadelphia, is a world-renowned leader in education, research, and innovation. This historic, Ivy League school consistently ranks among the top 10 universities in the annual U.S. News & World Report survey. Penn has 12 highly-regarded schools that provide opportunities for undergraduate, graduate and continuing education, all influenced by Penn's distinctive interdisciplinary approach to scholarship and learning. As an employer Penn has been ranked nationally on many occasions with the most recent award from Forbes who named Penn one of America's Best Large Employers in 2023.

Penn offers a unique working environment within the city of Philadelphia. The University is situated on a beautiful urban campus, with easy access to a range of educational, cultural, and recreational activities. With its historical significance and landmarks, lively cultural offerings, and wide variety of atmospheres, Philadelphia is the perfect place to call home for work and play.

The University offers a competitive benefits package that includes excellent healthcare and tuition benefits for employees and their families, generous retirement benefits, a wide variety of professional development opportunities, supportive work and family benefits, a wealth of health and wellness programs and resources, and much more.

Posted Job Title

Financial Analyst

Job Profile Title

Financial Analyst

Job Description Summary

The financial analyst should have experience in industry sponsored research contract negotiations, amendments and human research budget development. Independently manage post award activities including account setup, monitor and review of all sponsored projects expenditures including fund projections and annual budget. This position will be responsible for project specific accounting activities for clinical research projects across multiple divisions serving as a liaison between investigators, clinical research project managers and clinical research support staff. The financial analyst will report to the Manager of Admin & Finance for the Department of Medicine; have a supporting role across multiple divisions; liaison with the PSOM Office of Clinical Research (OCR), Clinical Trial Contracting Unit (CTCU), and the Office of Research Support Services (ORSS).

Job Description

The financial analyst should have experience in industry sponsored research contract negotiations, amendments and human research budget development. Independently manage post award activities including account setup, monitor and review of all sponsored projects expenditures including fund projections and annual budget. This position will be responsible for project specific accounting activities for clinical research projects across multiple divisions serving as a liaison between investigators, clinical research project managers and clinical research support staff. The financial analyst will report to the Manager of Admin & Finance for the Department of Medicine; have a supporting role across multiple divisions; liaison with the PSOM Office of Clinical Research (OCR), Clinical Trial Contracting Unit (CTCU), and the Office of Research Support Services (ORSS).

The Financial Analyst will:

• Reconcile funds and prepare reports for distribution to principal investigators and divisions leadership on a monthly basis. Post-award activities: ensure accurate reconciliation of expense across all accounts including but not limited to UPHS billing, PSOM charges, payment tracking and other variable expense. Oversee human subject payment. Manage patient billing including technical fees, professional fees, and service center charges
• Interface with industry sponsors to ensure the accurate collection of accounts receivable for clinical research projects. In collaboration with the Internal Review Board (IRB) and Office of Research Services (ORS) work to ensure all cash collection and service fees are appropriately recorded and reconciled.
• Meet with PIs and study team on a bi-monthly basis to review clinical trial revenue, expense and fund balance reports. Ensures timely posting to Penn Box of financial reports for assigned portfolios
• Close-out accounts at study termination & complete final reconciliation with Sponsor. Submit final close out documents to the Office of Research Support Services (ORSS) and ORS. Monitor close out process to ensure account balance is cleared and the fund is disabled.
• Support pre-award activities for patient oriented clinical trials federal and non-federal including completion of Prospective Reimbursement Analysis (PRA) with Clinical Research Coordinators(CRCs)/PIs, Research Billing Number (RBN) set-up, advance account paperwork if required, invoicing start-up, tracking initial payments, requesting approval for IDE devices from UPHS Supply Chain Committee, etc.

***Contingent upon Funding***

Qualifications

Bachelor of Science and 2 to 3 years of experience or equivalent combination of education and experience is required.

Strong organizational capabilities along with attention to detail, excellent follow through and analytic skills necessary.

Must be effective in setting and meeting personal short and long-term goals to complete assignments, with multiple project tasks ongoing simultaneously. Successful candidates will have the ability to anticipate problems relating to projects and to develop and implement solutions.

Flexibility and the drive to meet project deadlines required. Knowledge of financial processes required. Excellent written and verbal skills required.

Job Location - City, State

Philadelphia, Pennsylvania

Department / School

Perelman School of Medicine

Pay Range

$55,000.00 - $80,000.00 Annual Rate
Salary offers are made based on the candidate's qualifications, experience, skills, and education as they directly relate to the requirements of the position, and in alignment with salary ranges based on external market data for the job's level. Internal organization and peer data at Penn are also considered.